Crypto Market Update 5/9: Why Bitcoin Suddenly Fell Below $80,000

US Employment Report The August U.S.
employment report arrived with a much stronger unemployment figure than expected.
While 162,000 new jobs were added, the unemployment rate remained steady at 4.1% against an expected 56,000 jobs, which is three times the forecast.
Fed's Interest Rate Policy These data reduce the likelihood that the Federal Reserve will ease rates in the near future, putting pressure on risk assets.
The yield on the 10‑year U.S.
Treasury rose to 4.80%, while the 2‑year yield climbed to 4.40%.
Bitcoin Price Bitcoin fell about 2% immediately after the report was released, sliding to $79,600.
Over the past seven days it has risen 2.6%.
Spot Bitcoin ETF Flows Net inflows into spot Bitcoin ETFs continued during the week ending September 4, totaling $986.9 million.
Over three weeks, total net inflows reached roughly $3.8 billion.
Net assets fell to $101.3 billion by the weekend.
Since the beginning of the year, total net inflows have remained negative at around $1 billion.
In the most recent trading session, spot Bitcoin ETFs withdrew $174.6 million; BlackRock’s iShares Bitcoin Trust led the withdrawals with $117.4 million.
Future Outlook The market is focusing on the upcoming August inflation report, which will be released next week.
This data will be critical in determining the direction of Fed policy at the mid‑September meeting.
Fed officials Kevin Warsh, Christopher Waller, and John Williams have indicated that a rate hike decision has not yet been made.
This uncertainty may continue to fuel Bitcoin’s volatility.
Investors will keep a close eye on Fed decisions and inflation data.